Global body ups 2017-18 sugar surplus estimate to 4.6 million tonne vs 3 million

International Sugar Organization has raised its estimate for global sugar surplus in 2017-18 (Oct-Sep) sharply to 4.6 million tonne from 3 million tonne projected in June. The world sugar balance is forecast to show a surplus after two seasons of deficit” as the projected global output of sugar is higher than the consumption. Global sugar body has estimated the world sugar output in 2017-18 at 179.30 million tonne, up nearly 7% on year, led by likely higher production in India, European Union, Thailand and China. Globally, sugar available for export is expected to rise by 1.91 million tonne to 62.15 million tonne led by rising production in exporting countries, while the import demand for the sweetener in 2017-18 is seen at 57.62 million tonne.